Bitcoin Will Demonetize Gold: Michael Saylor

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Michael Saylor, the former CEO of MicroStrategy, has said Bitcoin (BTC) is on track to “demonetizing gold” in the long run. The investor and entrepreneur made the comments in an interview with Kitco, where he also argued that gold is unlikely to be adopted as money in the 21st century, explaining that: “Gold was metallic […]

Bitcoin Could Hit $773,000 If…

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Popular financial market information provider InvestAnswers has predicted that Bitcoin could record a massive rally now that BlackRock plans to make inroads into crypto. Last week, the world’s largest investment company, BlackRock, revealed plans to offer Bitcoin trading and custody services to corporate investors using Coinbase Prime. That said, analysts at InvestAnswers believe that this […]

On-Chain Data Suggests Bitcoin Has Hit Its Bottom

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On-chain analysis data shows that Bitcoin (BTC) might have reached its bottom. The data drew its reference from Reserve Risk, Balanced price, and the Cumulative Value-Days Destroyed (CVDD). According to the data, the Reserve Risk is a seasonal Bitcoin on-chain indicator that juxtaposes long-term investor confidence against the existing price of an asset. That said, […]

Bitcoin Records Best Monthly Performance in 2022

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Bitcoin (BTC) recorded a solid performance in July as most cryptocurrencies recorded their best month in 2022. Bitcoin touched the ever-elusive $24,000 mark for the first time since early June, while Ethereum came close to tapping $1,800. This bullish performance came despite the US Federal Reserve’s decision to raise its interest rates by 0.75%, bringing […]

Honduras Launches Its First “Bitcoin City: Bitcoin Valley

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The first Bitcoin city has launched in Honduras. The city name “Bitcoin Valley” is situated in the small tourist town of Santa Lucia and is only 20 minutes away from the country’s capital city of Tegucigalpa. The tourism project was a joint initiative by Blockchain Honduras, Guatemalan crypto exchange Coincaex, the Technological University of Honduras, […]

Bitcoin Supply On Crypto Exchanges Plummet Following Recent Rally

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A recent on-chain report from Glassnode shows that the existing balance of Bitcoin (BTC) on cryptocurrency exchanges is on a massive decline over the past few months. According to Glassnode, all the BTC on exchanges sits around 2.4 million, about 12.6% of the total circulating supply. This report highlights the growing confidence in Bitcoin and […]

Nigerians Run to Bitcoin Amid Plummeting Naira, BTC Returns to $24,000

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Nigerians have turned to Bitcoin (BTC) and Stablecoins after the nation’s currency, Naira, tumbled against the dollar. Citizens of the most populous African nation sought refuge in Bitcoin as the currency went into freefall against the US dollar. Peer-to-peer exchange LocalBitcoins reported a 258% spike in Bitcoin purchases compared to last week’s data. The Naira […]

Bitcoin Crashes as More Large Institutions Offload their BTC Holding

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As Bitcoin continues to struggle, a recent report shows that large institutions have sold over 236,000 Bitcoins or $4.95 billion using current exchange rates in the last two months. The benchmark cryptocurrency currently trades down by about 70% from its all-time high recorded in November. Large crypto players like Luna Foundation Guard (LFG), Tesla, Celsius, […]

Bitcoin Aid: Finland to Donate BTC Recovered from Prosecution to Ukraine

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The customs service of Finland (Tulli) announced on Thursday that it had sold previously seized Bitcoin (BTC) tokens from a criminal case. The official statement noted: “During the summer, Finnish Customs has realized its cryptocurrencies that had been legally forfeited to the state.” The announcement further detailed: “The realization concerned 1,889.1 Bitcoins. The state gained […]

Tesla Announces Massive Bitcoin Holding Reduction in Q2 Report

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In its recently released Q2 earnings report, Tesla revealed that it sold a large portion of its Bitcoin (BTC) holding and converted it to USD. In its report the behemoth electric vehicle manufacturer explained: “As of the end of Q2, we have converted approximately 75% of our bitcoin purchases into fiat currency. Conversions in Q2 […]